Strategic plan
What am I interested and why: Demonstrate and convince myself how simple a working trading plan can be created and executed. I want to own a great amount of different altcoins.
Are the given risks appropriate considering your personal profile? Yes
Tactical plan
• Market: Bittrex - Altcoin Trading
• Capital outlay: 1 btc or 0.05 max risk per trade (adjusted as account grows)
• Risk parameter: 5% of portfolio’s value per trade
• Risk adherence: Entire capital invested is considered risk capital.
• Time frame reference:Weekly and Daily charts to identify trade locations. 1hr chart for entry
• Setups used:
Buying against old lows
Buying RLZ
Stinks bids in case of candlestick tails (nibble tactic)
• Conditional Orders:
Do not buy up markets
Sell half on double
Wait for price to come down
• Additional considerations:
Profits are going to be reinvested under the plan’s conditions.
I understand the risk associated with Bittrex, have side accounts open on Polo and Ccex in case of delisting